Assume the Giada Coffee Roasters Corp. ended the month of August 2022 with these data: Payments...

 

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Assume the Giada Coffee Roasters Corp. ended the month of August 2022 with these data: Payments of cash: Acquisition of equipment....... $201,500 Dividends.... Retained earnings August 1, 2022.. 2,800 Cash balance, August 1, 2022.... $ Cash balance, August 31, 2022.. 0 5,300 Cash receipts: 0 Issuance (sale) of stock Retained earnings August 31, 2022... 2 Utilities expense 5,100 to owners....... Rent expense. Common stock.. 14,900 1,800 14,900 Adjustments to reconcile Equipment... 201,500 net income to net cash Office supplies. 7,400 provided by operations...... 1,400 Accounts payable. 8,800 Salary expense... 78,500 Service revenue. 278,700 Requirement 1. Prepare the income statement and the statement of retained earnings for Giada Coffee Roasters Corp., for the month ended August 31, 2022. Assume the Giada Coffee Roasters Corp. ended the month of August 2022 with these data: Payments of cash: Acquisition of equipment....... $201,500 Dividends.... Retained earnings August 1, 2022.. 2,800 Cash balance, August 1, 2022.... $ Cash balance, August 31, 2022.. 0 5,300 Cash receipts: 0 Issuance (sale) of stock Retained earnings August 31, 2022... 2 Utilities expense 5,100 to owners....... Rent expense. Common stock.. 14,900 1,800 14,900 Adjustments to reconcile Equipment... 201,500 net income to net cash Office supplies. 7,400 provided by operations...... 1,400 Accounts payable. 8,800 Salary expense... 78,500 Service revenue. 278,700 Requirement 1. Prepare the income statement and the statement of retained earnings for Giada Coffee Roasters Corp., for the month ended August 31, 2022.

Answer rating: 100% (QA)

Giada Coffee Roasters Corp Income Statement For the Month Ended August 31 2022 Service Revenu... View the full answer